The mine’s operation is expected to increase Russia’s copper production by 25% and gold production by 4%.
The Baimskaya mine is designed to process 70 million tonnes of ore annually, producing an average of 300,000 tonnes of copper each year during its first decade of full operation. The initiative is expected to create around 6,000 jobs and generate over Rbs3 trillion in tax revenue, contributing to regional economic growth in Chukotka, a mountainous area partly above the Arctic Circle.
The project is anticipated to boost Russia’s copper production by 25% and gold production by 4%. Georgy Fotin, general director of Baimskaya Management Company, stated: “We continue to build not just a mining and processing plant, but a powerful and technologically-advanced industrial complex that will strengthen Russia’s position in the global market and become a new point of growth in the Arctic.”
The Baimskaya development aligns with Russia’s Social and Economic Development Strategy for the Far East and Baikal Region through 2025 and for the Chukotka Autonomous Region through 2030. It is also expected to increase annual cargo traffic along the Northern Sea Route by 2 million tonnes, supporting expanded commercial activity in the Arctic.
In March 2025, Russia’s Natural Resources Ministry announced plans to produce at least 60,000 tonnes of lithium carbonate by 2030, aiming to enhance domestic manufacturing capabilities for high-capacity electric batteries and reduce reliance on imports.
The Baimskaya project represents a significant investment in Chukotka’s infrastructure and economic potential, fostering sustainable growth and strengthening Russia’s position in global mineral markets.
